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Technology Stocks : Ericsson overlook? -- Ignore unavailable to you. Want to Upgrade?

To: Leif V Singman who wrote (1066)	12/2/1997 3:58:00 PM
From: Nilda Ovalles	Read Replies (2) \| Respond to of 5390

To All: This announcement is not but a redundancy notice to employees of a 'Change Program' which began 2 years ago! This is not a new set of lay offs. And some of these employees are being transfered to other units from the hardware units being down sized. Please read below: Date: Dec 02, 1997 Subject: Comment In today's edition of the Swedish daily "Dagens Nyheter", there is a prominent article about Ericsson Telecom giving redundancy notice to 10,000 people. The facts are the following. Two years ago, Ericsson started a change program within the then business area Public Telecommunications. The background to this is that the pace of technological development has meant that the hardware content of our products has been sharply reduced. An example of this development is that an AXE switch is in some cases one tenth of its previous size. Despite increased sales, we have nevertheless been forced to rationalize our production structures. The reduced hardware content has also meant that we must reconsider our entire global supply flow. Continuous price pressure and very competitive and deregulated markets have underlined this demand for greater efficiency. During this change program we have seen how the need to restructure our organization has accelerated. Altogether this has implied major changes for the company as well as for individual employees. Since 1995, Ericsson has increased the number of employees by a total of 24,000 to 100,000 and by 6,000 during 1997. At the same time, almost 10,000 people have left what is today business area Infocom Systems. In most cases, this has been done through transferring people to other Ericsson units and to our new partners. We will continue to strive for this. The implications of the continued change program are currently under discussion. The consequences, globally as well as for the Swedish organization, will be announced as soon as possible. Talks with the Trade Unions are continuing Ericsson's 100,000 employees are active in more than 130 countries. Their combined expertise in fixed and mobile networks, mobile phones and infocom systems makes Ericsson a world-leading supplier in telecommunications. FOR FURTHER INFORMATION, PLEASE CONTACT Per Zetterquist, Director of Communication, Ericsson Business Area Infocom Systems Tel. +46 8 719 0475, or +46 70 519 0475

To: Leif V Singman who wrote (1066)	12/2/1997 4:02:00 PM
From: Nilda Ovalles	Respond to of 5390

To all: Ericsson Press Releases ERICSSON AND VOLEX IN AGREEMENT ON CABLE ASSEMBLY Date: Dec 02, 1997 Subject: Volex Ericsson's cable assembly business in Croatia and Malaysia, which employs some 300 people, has been aquired by Volex Group plc ("Volex") as from 1 December 1997. This agreement is a consequence of the Memorandum of Understanding that was released in September this year. Ericsson Cables AB has taken the role of first tier supplier of cable assemblies to Ericsson's business area Infocom Systems, with Volex as the manufacturer. In this capacity Ericsson Cables also specifies and develops new cable assembly products together with Volex for today's and future applications. The agreement reached forms a good basis for meeting the fast developing telecom market requirements of new cost-efficient cable assembly designs and solutions. This agreement is in line with Infocom Systems' policy of outsourcing its non-core business. It also considerably strengthens Volex's capabilities to become a main producer of cable assemblies to Ericsson. Volex Group plc, is a leading independent global manufacturer of cable assemblies, power cords and specialized harnesses, with facilities in Europe, North America and the Asia/Pacific region. Ericsson's 100,000 employees are active in more than 130 countries. Their combined expertise in fixed and mobile networks, mobile phones and infocom systems makes Ericsson a world-leading supplier in telecommunications. FOR FURTHER INFORMATION, PLEASE CONTACT Janne Sj”d‚n, President, Ericsson Cables AB Tel. +46 650 36300 Dom Molloy, Chief Executive, Volex Group plc Tel. +44 1 925 830101 Bengt Callmer, Director of Communication, Ericsson Component Companies Tel. +46 8 757 4689 Per Zetterquist, Director of Information, Ericsson Business Area Infocom Systems Tel. +46 8 719 0475 Peter Ford, Group Director Sales, Marketing and Business Development, Volex Group plc Tel. +44 1 925 830101